Cyprus - Continued growth in new company registrations
Published on: 27/04/2017
The number of new Cyprus company registrations continues to rise in 2017.
According to the figures of the Registrar of Companies and Official Receiver the number of new company registration rose by 8.9% to 1,315 in March, compared with the same month of last year.
The number of applications submitted for name approval rose by 9.3% to 2,611 and the number of certified documents issued by the Registrar rose 17% to 31,811 in March 2017.
The above numbers indicate that administrative services sector has recovered from the slowdown of the financial crisis and further growth
is expected due to the numerous benefits of Cyprus.
You may read more about Cyprus and its advantages on our website here.
What are the benefits of having a Cyprus company?
- differentiation between 'tax residents' and 'non tax residents'
- corporate tax is only 12,5 %, very low tonnage tax for ship-owning and shipping companies, 2,5 % on income from Intellectual Property (conditions apply, please read our specific page)
- no corporate tax for 'non tax resident' companies (with management residing abroad; special conditions apply)
- no tax on disposal or trading of securities
- no tax on income from dividends on company level (for a period of four years)
- no withholding tax on dividends paid to shareholders outside of Cyprus
- no tax on dividend income for non-domiciled but tax-resident individuals (please read our specific page)
- no tax on interest income on account of non-residents with banks in Cyprus
- no tax for International Trusts
- full adoption of the EU-Parent-Subsidiary-Directive (dividend payments of the subsidiary to its parent are tax-exempted)
- full tax group relief (profits of one group company are offset against losses of another group company)
- offshore entities from other countries are allowed as shareholders
- rigid appliance of all relevant EU directives.
Apart from the competitive tax framework, Cyprus has many more advantages to be considered. Because of its political stability, high standards of education and living, advantageous geographical location, law crime rate and warm climate Cyprus is an ideal place to live and to conduct business.
English is widely spoken and considered as business language.
Shanda Consult offers personalized Cyprus company registration services as well as a wide range of legal, bookkeeping, banking and fiduciary services. Shanda Consult can assist you also with issues concerning the Cyprus economic substance.
Through our subsidiary, Euroserv Business Centre we can offer:
complete setting up and maintenance of physical business office of your company, including the needed staff;
modern offices and workstations;
own phone line on the of the company, accepting phone calls in the name of the company, automatic call forwarding possible, notification via email;
own fax line;
forwarding of incoming mail via email (physical forwarding is possible as well).